reverse mortgage miami: Senate Launches Senior Anti-Fraud Hotline for Seniors - 05/27/14 12:26 AM
Senate Launches Senior Anti-Fraud Hotline for Seniors
In an effort to better protect seniors from falling victim to investment scams or internet thief, the Senate Aging Committee has launched an anti-fraud hotline where seniors or relatives can call and report if they suspect or feel they have fallen victim to a scheme.
In launching a hotline directly geared toward helping out the senior community, the Aging Committee is taking the necessary steps to make sure people or companies who scam seniors are caught and/or investigated. The lack of concern for the senior community is becoming a thing of the past as, day-by-day, new programs … (6 comments)

reverse mortgage miami: Most Long-Term Healthcare Services are Received at Home… - 05/15/14 01:06 AM
Most Long-Term Healthcare Services are Received at Home...
Aging in place is becoming a more prominent alternative to seniors who are retired or retiring in the future, especially considering their choices when it comes to receiving long-term healthcare services.
According to an article published by Reverse Mortgage Daily, which cites an report conducted by the CDC's National Center for Health Statistics, 56% of the 8.4 million older Americans who received healthcare services received them at home.
If this is an indication to the current state of long term healthcare then older Americans will need to secure more stable methods of income in … (2 comments)

reverse mortgage miami: "Reverse Mortgages Fit an Important Niche..." - 05/07/14 01:23 AM
"Reverse Mortgages Fit an Important Niche..."
Says Columbus Dispatch
The reverse mortgage program has undergone many changes in the past few months, and while some may say it is not worthwhile, despite all the success stories, the reverse mortgage industry will not give up on trying to educate consumers, financial planners, etc. on the benefits of the program.
Most importantly, for those who say the reverse mortgage program is on its way out, Columbus Dispatch says, "reverse mortgages fit an important niche," and for that very reason alone they will never cease to exist.
Even in marketing, and branding your company, … (4 comments)

reverse mortgage miami: Home Equity Lines of Credit Are Ballooning - 04/04/14 12:51 AM
Home Equity Lines of Credit Are Ballooning
Home Equity Lines of Credit may cause a new problem for banks as many reach their 10 year anniversary. This means many borrowers willl have to start paying their principal balance on these loans on top of the interest payments they've been paying for the last 10 years.
According to an article published by Reuters, more than $221 billlions worth of these loans will hit the 10 year mark for the next four years in the country's largest banks such as Bank of America and Citigroup. Most of these loans have about 40% of the line of … (0 comments)

reverse mortgage miami: Is There a Right Time to Get a Reverse Mortgage? - 02/18/14 12:32 AM
Is There a Right Time to Get a Reverse Mortgage?
There may be many seniors out there, 62 years of age and over, maybe even younger, thinking about applying for a reverse mortgage.
Whatever the reason for their consideration, one of the questions they may be asking themselves is: is there a right time to consider a reverse mortgage?
I don't think there is a right or wrong time to consider a reverse mortgage, mostly, because every situation is different.
If a homeowner is looking to pay off their mortgage in order to live debt free then the sooner the better. Especially … (2 comments)

reverse mortgage miami: "Extreme" Action is Underway for Reverse Mortgages - 02/06/14 11:26 PM
"Extreme" Action is Underway for Reverse Mortgages
The National Reverse Mortgage lenders Association is taking "extreme" action in order to change the face (and reputation) of the reverse mortgage, according to an article published by Reverse Mortgage Daily.
The "Extreme Summit," as it has been named by those in charge of the campaign, has gained the financial backing to make a serious dent in reverse mortgage program misconceptions over the next few years.
Lenders and industry leaders have showed their support and encouragement by collectively donating $2 million to revitalizing the reverse mortgage program through advertising across several media outlets and raising awareness about the new … (0 comments)

reverse mortgage miami: How Good is Your Attitude? - 02/04/14 11:40 PM
How Good is Your Attitude?
A good attitude is one of the most important components of having a successful business. Attitude, for the most part, determines your day, especially if you are in the business of customer service. If you have a bad attitude, you'd be hard pressed to find a customer who would appreciate being treated badly because your attitude is anything less than satisfactory.
Attitude also determines your success. If you're positive, even in the face of the most negative consequences, eventually, it will all work out. In truth, most of the negative aspects in our lives can get worked out … (12 comments)

reverse mortgage miami: Reverse Mortgages Make Retirement Plans Easier Thanks to New Software - 01/21/14 11:12 PM
Reverse Mortgages Make Retirement Plans Easier Thanks to New Software
IBIS Software has developed two new software platforms for both loan original and financial planners which will allow them to input reverse mortgages into retirement portfolios based on the 6% rule.
The 6% rule is an upcoming trend in retirement planning, based on the original 4% rule, which states that a person planning for a 30-year retirement, whose portfolio is invested at least 50% in equities, can withdraw 4% of their initial portfolio value in the first year and increase those withdrawals according to cost of living changes. If executed correctly, and if the portfolio performs … (4 comments)

reverse mortgage miami: Baby Boomers See, Baby Boomers Do - 01/16/14 03:44 AM
Baby Boomers See, Baby Boomers Do
Retirement means something different for everyone. Even before the Recession, I'm sure there were retirees who never thought of retirement as "completely retiring yourself from the workforce and moving to Florida."
We are all different, so it stands to reason that some people either remained in the workforce until they couldn't anymore, or dedicated themselves to their life-long career part time and enjoyed other hobbies on the side.
If it is true that retirement is truly changing and becoming another stage in life, instead of the end of a long journey, then the habits of baby … (2 comments)

reverse mortgage miami: "The Iceberg of Retirement": Dealing with Hidden Retirement Concerns - 01/10/14 01:18 AM
"The Iceberg of Retirement": Dealing with Hidden Retirement Concerns
Retirement concerns for many seniors can stem from one main concern: finances. How will I afford this? Will this be enough to pay for it? How much do I need to save? And the list goes on.
However, there are other concerns future retirees, especially those with a spouse should look into, namely, the unforeseen issues that may raise when one spouse, or both spouses, chose to retire.
An article published on FinancialAdvisor.com, which discussed emerging trends in the baby boomer market, brought up what writer, Robert Laura, likes to call, "the iceberg of retirement."
What does … (5 comments)

reverse mortgage miami: Believe In What You Do…And Do What You Believe In... - 12/17/13 11:39 PM
Believe In What You Do…And Do What You Believe In...
I used to be one of those people who thought the reverse mortgage wasn't a good fit for older Americans. I had read all the articles, seen all the news reports and, frankly, I was convinced that reverse mortgages were doing more harm than good.
What changed?
I did my research. I stopped thinking everything I read online was true. I stopped looking for the news stories that said reverse mortgages were bad and looked for the ones that said it was good. I put faith in my product until, little by little, … (2 comments)

reverse mortgage miami: Are "Green" Home Improvements Worth It? - 12/17/13 12:26 AM
Are "Green" Home Improvements Worth It?
They Might Be...Now
Home improvements, when done right, can add value to a home during resale or appraisals.
One improvement that has been falling by the wayside, however, is energy efficiency. 
There have been many posts on Active Rain that have got me thinking, not just about going green in my diet, but also about homeowners who go green in their homes, only to be disappointed by lower-than-expected appraisals when they're selling or applying for loans.
In an article published by Inman.com, "Industry push to raise visibility of home energy efficiency improvements," Ken Harney discussed … (2 comments)

reverse mortgage miami: Twitter Cracks Down on "Trolls" - 12/10/13 11:22 PM
Twitter Cracks Down on "Trolls"
I think it's been a long time coming, but it's finally here: Twitter is cracking down on trolls, who harass Twitter users on a daily basis. It's incredible that, in this day and age, Twitter users still had to navigate a complex series of flaming hoops to report abuse, but it's true.
Thankfully, Twitter has gotten the message and will hand down new rules to beat abusive talk, according to an article published in the Huffington Post. 
The new rules are being enforced after several women in Britain went public about sexually explicit and violence abuse they received … (9 comments)

reverse mortgage miami: Success Is Earned, Not Given - 12/08/13 11:59 PM
Success Is Earned, Not Given
Being a self starter is difficult business. Even being successful in a company of millions can become a hassle, and, after months (maybe years) of yearning for success, and not achieving it, you wonder why you're not as successful as you should be.
I think it's an important factor to consider. Does success equal happiness or fulfillment? No, but we like to feel like we have accomplished something worthwhile, that all the time and sweat we have input into our jobs has not been a waste of time.
Having said that, I think there are reasons why people … (4 comments)

reverse mortgage miami: Digital Postcards...Yay or Nay? - 12/05/13 04:40 AM
Digital Postcards...Yay or Nay?
Postcards can be a nice gesture in a world that, little by little, continues to dive into technological methods of communication.
Aside from face-to-face communication, postcards (or any handwritten note for the matter) provide a more intimate connection to people than just sending another email or text.
In light of this, LinkedIn has added a digital postcard option, according to an article in Inman.com, to its rooster of technical tools, which allow free-flowing communication with a personal touch.
I have yet to try this option. In fact, some of the comments make me weary of using it at all, but … (4 comments)

reverse mortgage miami: HELOC Payments are Going from Interest Only to Fully Amortized - 12/05/13 02:35 AM
HELOC Payments are Going from Interest Only to Fully Amortized
This time it's not about the recovering housing market but about making sure borrowers who took out home equity lines of credit during the boom will be able to make their monthly payments once their loans reach the ten year mark.
Many borrowers have been able to continue making payments on their loans because they have only been making payments on their interest, not their principal balance for the first ten years. At the ten year mark, payments can as much as triple for many borrowers, rendering repayment impossible for some.
(0 comments)

reverse mortgage miami: Aging in Place Becomes More Prominent - 11/25/13 03:00 AM
Aging in Place Becomes More Prominent
Aging in Place is becoming more important even as long term care costs continue to rise. While some retirees or future retirees consider, and insist, on moving, others want to stay where they are comfortable, in a place they have called home for many years.
It's becoming increasingly difficult though, especially with the cost of living rising daily, mortgage payments becoming higher and previous forms of retirement incomes depleting.
The AARP is in agreement, and has announced that aging in place will be a critical component of long term care in the future, at a hearing of … (13 comments)

reverse mortgage miami: Is Right Now the Worst Time to Retire? - 11/24/13 11:24 PM
Is Right Now the Worst Time to Retire?
It has been said before and I'll say it again: retirement is slowly becoming that far off dream that everyone hopes to achieve but few ever do.
It's important to also note that the retirement I'm talking about is the textbook definition of retirement: "relaxing comfortably and without worries, etc." For retiring baby boomers and future retirees, this "textbook" retirement could look more like "working part time to supplement my low fixed income".
It's one of the harshest realities older Americans are going to have to face as the cost of living rises and previous … (3 comments)

reverse mortgage miami: "I'll Just Live Paycheck to Paycheck and Never Worry About Saving." - 11/22/13 01:21 AM
"I'll Just Live Paycheck to Paycheck and Never Worry About Saving."
An article, published in MoneyNews, offered some shocking, but ultimately unsurprising satistics:
46% of Americans have less than $10,000 saved for retirement. (Employment Benefit Research Institute) 40% of baby boomers now plan to work until they die. (AARP) 36% of Americans say they don’t contribute anything at all to their savings. [CNBC] 87% of adults say they are not confident about having money for a comfortable retirement. (Lifehappens.org) Expected retirement age is up to 67 from age 63. (Zero Hedge) Why are they shocking? I never thought it would be this bad, … (4 comments)

reverse mortgage miami: How to Make Your Home "Retirement Ready" - 11/19/13 11:20 PM
How to Make Your Home "Retirement Ready"
Moving when you're entering retirement, or worse yet, when you've been in retirement for a few years, is the worst. I know because I've moved, we all have, and it's always a hassle. 
Where do I move? How fast can I sell my house? How fast can I get a new house? Can I afford it? What do I take and what do I leave?
If you want to age in place, however, then it's time to consider a reverse mortgage.
Why?
It can help improve your home in order to age in place, pay for (un)expected costs or … (6 comments)

 
Phil Stevenson, CRMP, "Mortgage Nerd" in Miami, Florida and Texas (PS Mortgage Lending 305-791-4874 or 888-845-6630) Rainmaker large

Phil Stevenson, CRMP

"Mortgage Nerd" in Miami, Florida and Texas

Miami, FL

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PS Mortgage Lending 305-791-4874 or 888-845-6630

Address: 14100 Palmetto Frontage Rd Ste 104, Miami Lakes, FL, 33016

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